5 Reasons to Buy Accenture Stock's Post-Earnings Drop
Accenture's (NYSE: ACN) stock recently tumbled after its fourth-quarter numbers missed Wall Street's expectations.
The IT and consulting services company reported on Wednesday that fourth-quarter revenue fell 2% year-over-year (and declined 1% in constant currency terms) to $10.8 billion, missing estimates by nearly $97 million. Its adjusted earnings dipped 2% to $1.70 per share, missing expectations by two cents.
For the first quarter, Accenture expects a 2% year-over-year decline to 1% growth in revenue, which barely meets expectations for 1% growth. In constant currency terms, it expects a 3% decline to flat growth.
Source Fool.com
